Intervoice shares slump on quarterly report, outlook

MichaelBaron

NEW YORK (MarketWatch) -- Shares of Intervoice Inc.
INTV, -10.71%
dropped 10.2% to $8.50 on Thursday afternoon. Following Wednesday's closing bell, the Dallas-based networking software company reported second-quarter earnings of $4.6 million, or 12 cents a share, down from a year-ago profit of $5.1 million, or 13 cents a share. Revenue slid 2.2% in the latest three months to $43.3 million from $44.3 million in the same period a year earlier. The company said the latest quarter included a $1 million gain related to the resolution of certain international tax matters. Wall Street's consensus estimate was for earnings of 9 cents a share in the August period on revenue of $44 million. Looking ahead, Intervoice forecast revenue of between $40 million and $45 million for the third quarter, below the current average estimate of analysts polled by Thomson First Call for revenue of $46.7 million.

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